If you are the owner or occupier of a lot on a strata property, you may have considered leasing out your property while you are away. Also known as short-term letting, this includes listing your property on sites like Airbnb, Stayz and other accommodation websites. However, Australia (and NSW in particular) is currently experiencing some backlash against short-term letting, so it’s important that you are aware of the potential problems that may arise.
Issues with listing a strata property on Airbnb
Although putting your strata property up on sites like AirBnb seems like a great way to create a new income stream, there are many valid concerns around doing so.
Laws around short-term letting
On 5th June 2018, the NSW state government revealed a new set of legislation aimed at regulating short-term leasing within strata properties. Under the legislation, it was proposed that:
Although the new legislation was meant to be introduced in 2019, it has been postponed and is currently under review. However, a spokesperson for NSW Fair Trading has stated that a draft Code of Conduct will be published by the first quarter of 2020.
Currently, owners of lots may rent out their properties on sites like Airbnb if they wish, however renters will need to obtain the consent of their landlord before doing so. Landlords should also be vigilant in making sure that their rental properties are not listed on AirBnb without their knowledge, and should seek legal advice if necessary.
Do you have questions about short-term rentals and holiday-letting on your strata property? Get in touch with our team today for more information on our range of strata services or explore our document bank for more information.